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rtiUn ti du, D R / ` ■ 1 10: 31 <br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />LITTLE CANADA, MINNESOTA <br />HELD: October _, 1991 <br />NO.9 <br />Pursuant to due call and notice thereof, a <br />meeting of the City Council of the City of Little Canada, Ramsey <br />County, Minnesota, was duly called and held at the City"Hall in <br />said City on , the __ day of October, 1991, at <br />o'clock _.M. <br />The following members were present: <br />and the following were absent: <br />Member introduced the following <br />resolution and moved its adoption: <br />RESOLUTION CALLING FOR REDEMPTION OF CERTAIN <br />OUTSTANDING GENERAL OBLIGATION ADVANCE REFUNDING BONDS OF 1985 <br />A. WHEREAS, the City Council of the City of Little <br />Canada, Minnesota (the "City "), issued on behalf of the City <br />$1,000,000 General Obligation Advance Refunding Bonds of 1985, <br />dated December 1, 1985 (the "Bonds "), of which Bonds $615,000 <br />still remain outstanding; and <br />B. WHEREAS, all of the Bonds maturing in the years <br />1991 through 1996, both inclusive, totaling $700,000 in principal <br />amount, are subject to redemption and prepayment at the option of <br />the City in inverse order, on January 1, 1990, and on any <br />interest payment date thereafter at par and accrued interest, all <br />as provided in the resolution of the City Council dated <br />December 4, 1985 authorizing the issuance of the Bonds (the <br />"Resolution "); and <br />C. WHEREAS, the City Council deems it desirable and in <br />the best interests of the City to call all of the Bonds maturing <br />in the year 1996 totaling $140,000 in principal amount, on <br />January 1, 1992, in accordance with the Resolution; and <br />23862 <br />Page 46 <br />